Eaton (NYSE:ETN) Coverage Initiated at UBS Group

Equities research analysts at UBS Group assumed coverage on shares of Eaton (NYSE:ETN) in a report issued on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $431.00 price target on the industrial products company’s stock. UBS Group’s target price would suggest a potential upside of 19.90% from the company’s current price.

ETN has been the topic of a number of other research reports. Sanford C. Bernstein began coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Citigroup began coverage on Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 target price on the stock. Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Raymond James lowered their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $374.00 price target on shares of Eaton in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Eaton Stock Performance

Shares of ETN stock traded down $2.38 during trading hours on Wednesday, reaching $359.48. 389,913 shares of the company’s stock were exchanged, compared to its average volume of 2,104,470. The company has a market cap of $142.07 billion, a P/E ratio of 38.34, a price-to-earnings-growth ratio of 2.96 and a beta of 1.01. The company’s 50 day moving average is $334.34 and its two-hundred day moving average is $321.13. Eaton has a 1 year low of $224.52 and a 1 year high of $373.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.47 EPS. Equities research analysts anticipate that Eaton will post 10.79 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Karenann K. Terrell acquired 500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now directly owns 500 shares of the company’s stock, valued at $149,485. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 68,705 shares of company stock valued at $24,516,346. 0.53% of the stock is currently owned by company insiders.

Institutional Trading of Eaton

Large investors have recently modified their holdings of the business. Breakwater Investment Management grew its stake in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares in the last quarter. Proffitt & Goodson Inc. acquired a new stake in shares of Eaton during the second quarter valued at about $29,000. LGT Financial Advisors LLC acquired a new position in Eaton in the second quarter worth about $33,000. West Financial Advisors LLC acquired a new position in Eaton in the third quarter worth about $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new position in Eaton in the second quarter worth about $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.